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S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Checking in with 5 Bitcoin Stocks Ahead of Bitcoin's Halving
Closing prices for crude oil, gold and other commodities
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Stock market today: Wall Street dips to send S&P 500 to its longest losing streak since January
Abbott Laboratories Outlook is Healthy: Buy the Dip
Prologis Stock Leading U.S. Logistics Boom
NYSE:GLW

Corning (GLW) Stock Price, News & Analysis

$30.98
+0.06 (+0.19%)
(As of 04/17/2024 ET)
Today's Range
$30.95
$31.44
50-Day Range
$30.92
$33.38
52-Week Range
$25.26
$36.01
Volume
5.18 million shs
Average Volume
4.76 million shs
Market Capitalization
$26.50 billion
P/E Ratio
46.24
Dividend Yield
3.62%
Price Target
$34.56

Corning MarketRank™ Stock Analysis

Analyst Rating
Hold
2.33 Rating Score
Upside/​Downside
11.5% Upside
$34.56 Price Target
Short Interest
Healthy
1.49% of Float Sold Short
Dividend Strength
Strong
Based on Four Factors
Sustainability
N/A
News Sentiment
0.41mentions of Corning in the last 14 days
Based on 19 Articles This Week
Insider Trading
Selling Shares
$2.57 M Sold Last Quarter
Proj. Earnings Growth
13.98%
From $1.86 to $2.12 Per Share

Overall MarketRank

New Rank-Based ScoringMarketRank is calculated by averaging available category scores (with extra weight given to analysis and valuation), then ranking the company's weighted average against that of other companies.

4.54 out of 5 stars

Computer And Technology Sector

79th out of 588 stocks

Nonferrous Wiredrawing & Insulating Industry

2nd out of 2 stocks

GLW stock logo

About Corning Stock (NYSE:GLW)

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices. Its Optical Communications segment provides optical fibers and cables; and hardware and equipment products, such as cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories for the telecommunications industry, businesses, governments, and individuals. The company's Specialty Materials segment manufactures products that offer material formulations for glass, glass ceramics, crystals, precision metrology instruments, and software, as well as glass wafers and substrates, tinted sunglasses, and radiation shielding products for various markets comprising mobile consumer electronics, semiconductor equipment optics and consumables, aerospace and defense optics, radiation shielding products, sunglasses, and telecommunications components. Its Environmental Technologies segment provides ceramic substrates and filter products for emissions control in mobile, gasoline, and diesel applications. The company's Life Sciences segment offers laboratory products, including consumables, such as plastic vessels, liquid handling plastics, specialty surfaces, cell culture media, and serum, as well as general labware, and glassware and equipment under the Corning, Pyrex, Falcon, and Axygen brands. The company was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989. Corning Incorporated was founded in 1851 and is headquartered in Corning, New York.

GLW Stock Price History

GLW Stock News Headlines

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Recently, Bitcoin smashed through its previous record high to hit $72,720. It’s made many, many people very rich. But one cryptocurrency expert and investing millionaire is declaring…
Corning Inc GLW
Corning Incorporated (NYSE:GLW) Short Interest Update
Could Bitcoin Literally FORCE This Crypto To Rocket Up?
Recently, Bitcoin smashed through its previous record high to hit $72,720. It’s made many, many people very rich. But one cryptocurrency expert and investing millionaire is declaring…
Corning (NYSE:GLW) PT Raised to $36.00 at JPMorgan Chase & Co.
Corning man arrested for sexual assault
Corning (NYSE:GLW) PT Raised to $35.00
Corning sheds light on fiber optics at O’Hare
See More Headlines
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Company Calendar

Last Earnings
1/30/2024
Ex-Dividend for 3/28 Dividend
2/28/2024
Dividend Payable
3/28/2024
Today
4/17/2024
Next Earnings (Confirmed)
4/30/2024
Fiscal Year End
12/31/2024

Industry, Sector and Symbol

Industry
Nonferrous wiredrawing & insulating
Sub-Industry
Electronic Components
CUSIP
21935010
Employees
49,800
Year Founded
1851

Price Target and Rating

Average Stock Price Target
$34.56
High Stock Price Target
$40.00
Low Stock Price Target
$29.00
Potential Upside/Downside
+11.8%
Consensus Rating
Hold
Rating Score (0-4)
2.33
Research Coverage
9 Analysts

Profitability

Net Income
$581 million
Pretax Margin
6.48%

Debt

Sales & Book Value

Annual Sales
$12.59 billion
Cash Flow
$3.28 per share
Book Value
$13.91 per share

Miscellaneous

Free Float
851,503,000
Market Cap
$26.45 billion
Optionable
Optionable
Beta
1.08

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Should I Buy Corning Stock? GLW Pros and Cons Explained

Pros

Here are some ways that investors could benefit from investing in Corning Incorporated:

  • Corning Incorporated has a diverse business portfolio, including display technologies, optical communications, environmental technologies, specialty materials, and life sciences, providing exposure to multiple industries and reducing risk.
  • The company's consistent investment in research and development to innovate new products and technologies, ensuring competitiveness and potential for future growth.
  • Corning's strong financial position with a market capitalization of $28.19 billion, indicating stability and potential for long-term growth.
  • Corning's recent earnings report showed a positive EPS of $0.39 for the quarter, meeting expectations, which can instill confidence in investors.
  • The company's stock price has shown resilience, with a fifty-two week high of $36.01, indicating potential for capital appreciation.

Cons

Investors should be bearish about investing in Corning Incorporated for these reasons:

  • Corning's price-to-earnings ratio of 49.19 may indicate that the stock is currently overvalued, potentially limiting short-term gains for investors.
  • The company's debt-to-equity ratio of 0.61 suggests a moderate level of debt, which could pose risks in case of economic downturns or interest rate hikes.
  • Corning's beta of 1.08 indicates that the stock is slightly more volatile than the market average, which may not be suitable for risk-averse investors.
  • The price-to-earnings-growth ratio of 1.84 may imply that the stock is relatively expensive compared to its growth prospects, potentially limiting future returns.
  • Corning's fifty-day moving average price of $32.12 and 200-day moving average price of $30.27 may suggest a lack of significant price momentum in the short to medium term.
These pros and cons were generated based on recent news and financial data from MarketBeat in order to provide readers with the fastest and most accurate insights. They were last updated on Thursday, April 11, 2024. Please send any questions or comments about these Corning pros and cons to contact@marketbeat.com.

GLW Stock Analysis - Frequently Asked Questions

Should I buy or sell Corning stock right now?

9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Corning in the last year. There are currently 1 sell rating, 4 hold ratings and 4 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" GLW shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in GLW, but not buy additional shares or sell existing shares.
View GLW analyst ratings
or view top-rated stocks.

What is Corning's stock price target for 2024?

9 Wall Street analysts have issued 12 month price targets for Corning's shares. Their GLW share price targets range from $29.00 to $40.00. On average, they expect the company's stock price to reach $34.56 in the next year. This suggests a possible upside of 11.5% from the stock's current price.
View analysts price targets for GLW
or view top-rated stocks among Wall Street analysts.

How have GLW shares performed in 2024?

Corning's stock was trading at $30.45 at the beginning of 2024. Since then, GLW stock has increased by 1.7% and is now trading at $30.98.
View the best growth stocks for 2024 here
.

Are investors shorting Corning?

Corning saw a decrease in short interest in the month of March. As of March 31st, there was short interest totaling 11,520,000 shares, a decrease of 7.2% from the March 15th total of 12,410,000 shares. Based on an average trading volume of 4,780,000 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.5% of the shares of the company are short sold.
View Corning's Short Interest
.

When is Corning's next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, April 30th 2024.
View our GLW earnings forecast
.

How can I listen to Corning's earnings call?

Corning will be holding an earnings conference call on Tuesday, April 30th at 8:30 AM Eastern. Interested parties can register for or listen to the call using this link.

How were Corning's earnings last quarter?

Corning Incorporated (NYSE:GLW) released its quarterly earnings results on Tuesday, January, 30th. The electronics maker reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. The electronics maker had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.26 billion. Corning had a net margin of 4.62% and a trailing twelve-month return on equity of 12.31%. The company's revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share.
Read the conference call transcript
.

How often does Corning pay dividends? What is the dividend yield for Corning?

Corning announced a quarterly dividend on Wednesday, February 7th. Stockholders of record on Thursday, February 29th will be given a dividend of $0.28 per share on Thursday, March 28th. This represents a $1.12 annualized dividend and a dividend yield of 3.62%. The ex-dividend date is Wednesday, February 28th.
Read our dividend analysis for GLW
.

Is Corning a good dividend stock?

Corning (NYSE:GLW) pays an annual dividend of $1.12 per share and currently has a dividend yield of 3.58%. The company has been increasing its dividend for 13 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 167.16%. Payout ratios above 75% are not desirable because they may not be sustainable. Based on earnings estimates, GLW will have a dividend payout ratio of 52.83% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for GLW.

What guidance has Corning issued on next quarter's earnings?

Corning issued an update on its first quarter 2024 earnings guidance on Tuesday, January, 30th. The company provided earnings per share guidance of 0.320-0.380 for the period, compared to the consensus estimate of 0.380. The company issued revenue guidance of $3.1 billion-$3.1 billion, compared to the consensus revenue estimate of $3.2 billion.

What is Wendell P. Weeks' approval rating as Corning's CEO?

413 employees have rated Corning Chief Executive Officer Wendell P. Weeks on Glassdoor.com. Wendell P. Weeks has an approval rating of 79% among the company's employees.

What other stocks do shareholders of Corning own?

Based on aggregate information from My MarketBeat watchlists, some companies that other Corning investors own include Intel (INTC), Cisco Systems (CSCO), NVIDIA (NVDA), AT&T (T), QUALCOMM (QCOM), Micron Technology (MU), Advanced Micro Devices (AMD), General Electric (GE), Walt Disney (DIS) and Johnson & Johnson (JNJ).

Who are Corning's major shareholders?

Corning's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Wealth Enhancement Advisory Services LLC (0.14%), Gateway Investment Advisers LLC (0.06%), Meyer Handelman Co. (0.06%), Osher Van de Voorde Investment Management (0.05%), O Keefe Stevens Advisory Inc. (0.04%) and Parkside Investments LLC (0.02%). Insiders that own company stock include Anne Mullins, Cheryl C Capps, Cheryl C Capps, Clark S Kinlin, David L Morse, David L Morse, Eric S Musser, John P Bayne Jr, John Z Zhang, Lawrence D Mcrae, Lawrence D Mcrae, Lewis A Steverson, Li Fang, Martin J Curran, Michael Alan Bell, Robert P France, Robert P France, Roger W Jr Ferguson, Stefan Becker, Thomas Peterffy, Wendell P Weeks and Wendell P Weeks.
View institutional ownership trends
.

How do I buy shares of Corning?

Shares of GLW stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

Does Corning have any subsidiaries?
The following companies are subsidiares of Corning: 3M Communication - Markets Division, Alliance Fiber Optic Products Inc., Alliance Fiber Optic Products Inc., Axygen BioScience Inc., Axygen Bioscience Inc., Axygen Holdings Corporation, Axygen Inc., Chengdu Honing Display Glass Co. Ltd., China Renewable Energy Fund LP, Corning (Hainan) Optical Communications Co. Ltd., Corning (Shanghai) Co. Ltd., Corning Automotive Glass Solutions (Hefei) Co. Ltd., Corning B.V., Corning China (Shanghai) Regional Headquarter, Corning Display Technologies (China) Co. Ltd., Corning Display Technologies (Chongqing) Co. Ltd., Corning Display Technologies (Guangzhou) Co. Ltd., Corning Display Technologies (Hefei) Co. Ltd., Corning Display Technologies (Wuhan) Co. Ltd., Corning Display Technologies Materials (Chongqing) Co. Ltd, Corning Display Technologies Taiwan Co. Ltd., Corning Environmental Technologies (Hefei) Co. Ltd., Corning Finance B.V., Corning Finance Luxembourg S.à.r.l., Corning GmbH, Corning Holding GmbH, Corning Hungary Data Services Limited Liability Company, Corning Incorporated, Corning International Corporation, Corning Japan K.K., Corning Life Sciences (Wujiang) Co. Ltd., Corning Luxembourg S.à.r.l., Corning NetOptix Inc., Corning Oak Holding LLC, Corning Optical Communications GmbH & Co. KG, Corning Optical Communications LLC, Corning Optical Communications Polska Sp. z o. o., Corning Optical Communications RF LLC, Corning Optical Communications S. de R.L. de C.V., Corning Optical Communications Vermoegensverwaltungs GmbH, Corning Pharmaceutical Glass LLC, Corning Precision Materials Co. Ltd., Corning Property Management Corporation, Corning Research & Development Corporation, Corning SAS, Corning SK Luxembourg S.à.r.l., Corning Singapore Holdings Pte Ltd, Corning Specialty Materials Inc., Corning Technologies (H.K.) Limited, Corning Technologies SARL, Corning Telecommunications Luxembourg S.à.r.l., Corning Tropel Corporation, Corning Ventures France SAS, DC HSC Holdings LLC, Discovery Labware Inc., Discovery Labware Inc., Eurokera (Thailand) Limited, Eurokera Guangzhou Co. Ltd., Eurokera North America Inc., Eurokera S.N.C., Gerresheimer AG, HSC Holdings LLC, Hemlock Holdings LLC, Hemlock Semiconductor L.L.C., Hemlock Semiconductor Operations LLC, Keraglass S.N.C., Mediatech Inc., MobileAccess Networks, NZ Applied Technologies Corporation, Phoenix Venture Partners II LP, Photonics Technology Research Center, STRAN Technologies, Samsung Corning Advanced Glass LLC, SpiderCloud Wireless, TR Manufacturing LLC, Xianyang Honing Display Glass Co. Ltd., and iBwave Solutions Inc..
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This page (NYSE:GLW) was last updated on 4/17/2024 by MarketBeat.com Staff

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